PriceActionTrading
Long

USDCAD D1 FAKEY FOUND. WATCH NEXT H4 FOR CONFIRMATION.

FX:USDCAD   U.S. Dollar / Canadian Dollar
272 1 8
PRICE WENT BELOW THE LOW OF THE PATTERN BEFORE REVERSING STRAIGHT UP
ENTER LONG ONCE H4 CLOSES ABOVE 1.243
THIS IS SOMEWHAT A BEAR TRAP, HIGHLY EFFECTIVE TRADE IMO             ONCE CONDITIONS ARE MET

REASON BEHIND THIS IS BECAUSE PEOPLE CAUGHT WITH THEIR SELL IN THIER POCKET WILL BE FORCED TO CLOSE/STOPPED OUT OF THEIR POSITION. THUS, WE ARE RIDING THE WAVE ON THIS ONE. IF THE CONDITIONS ARE MET.
THOSE GREEDY BEARS WHOSE TRADE TRIGGERED AT 1.239 WILL HAVE NO CHOICE BUT TO HAND OVER THEIR POSITION TO US.

BUY AT 1.245 FOR FAVOURABLE RISK REWARD
ANY HIGHER THAN THAT WILL RESULT IN LESS THAN 2 TO 1 RISK REWARD.

H4 REPRESENTATION OF MY IDEA

SUBSCRIBE AND LIKE MY IDEAS. COMMEND AND SHARE YOUR VIEWS!
HAPPY PIPPING
TRADE DID NOT TRIGGER :(
CANCELLING BUY ORDER NOW SINCE MOST OF TARGET IS REACHED
+2 Reply
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